The People's Bank of China announced it has signed a currency swap agreement worth AED20 billion ($5.54bn) with the UAE, during Chinese Premier Wen Jiabao's visit to Dubai. The statement added that the three years-long deal would boost two-way...
A look at today’s important financial news and business updates from the Middle East region: Dubai Tourism launches new environment initiative for green tourism The Dubai Department of Tourism and Commerce Marketing (DTCM) has launched a new initiative to improve the...
A look at today’s important financial news and business updates from the Middle East region: UAE ranked among lowest software piracy countries The UAE is the only Arab country ranked among the lowest-piracy countries in the world, the ninth annual global...
Today’s top business and economy news from the Middle East and North Africa: UAE bank giants lead China expansion march Two of the UAE's largest banks are leading an expansion drive into China as trade between the two countries continues its...
The UAE newspapers widely commemorated the 10-year anniversary of the terror attacks on the US which occurred on 11 September 2001. The front page of The National on Sunday carries an image of two Black American women sobbing just moments...
Today's Khaleej Times has reported the bonanza announcement made by the Dubai government that is set to add more comfort to the lives of Emirati nationals. According to the announcement by Sheikh Mohammad, Vice President of UAE and the ruler...
A look at today's financial news and business updates from the Middle East region Abu Dhabi sells Tesla stake for $133m profit State-owned power supplier Abu Dhabi National Energy (TAQA) announced it has sold its 7% stake in US electric carmaker...
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa: Turkish hotel chain unveils Middle East, including UAE, expansion plans  Turkish luxury hotel chain Rixos unveiled plans to...
According to the data released by International Energy Agency (IEA), the UAE's average oil output registered an increase of 2.38% in December to reach 2.58 million barrels per day (bpd) compared to 2.52 million bpd month before. "OPEC (Organisation...
Today’s top business news from the Middle East and North Africa: Abraaj joins hand with US govt to launch $400m Middle East private equity fund Abraaj Capital, a leading Middle East private equity firm, announced it is going to set up a...
Middle East Business News Review:  Top Business News from the Middle East & North Africa Rio Tinto, Areva bag $3 billion UAE nuclear contracts The Emirates Nuclear Energy Corporation has awarded fuel supply contracts worth about $3 billion to six international...
The surprisingly low turnout of 24 September FNC elections has got the newspapers talking. Gulf News' reported that many observers blame the lack of electoral culture among a large segment of citizens. Limited mandate of the FNC, lack of publicity...
A look at today’s important financial news and business updates from the Middle East region: UAE praised for its aviation policies United Arab Emirates’ aviation policies have won praise from an unexpected quarter. In the past, major European, Australian and US-based...
A look at today’s important financial news and business updates from the Middle East region: UAE, Saudi promise Korea to plug Iran oil supply gap South Korean Finance and Strategies Minister Bahk Jae-wan said the UAE and Saudi Arabia have vowed...
The front pages of today's UAE newspapers have published mixed stories ranging from national to international issues. Khaleej Times reported the government is mulling new welfare plans for expats and an unemployment insurance scheme for UAE nationals. The announcement comes...
A look at today's important financial news and business updates from the Middle East region: Dubai eGovernment launches Supply2Dubai official procurement portal Dubai eGovernment, the Department in charge of supervising eTransformation in Dubai, has launched Supply2Dubai, the official Procurement Portal of...
A look at today’s important financial news and business updates from the Middle East region: 4 GCC states among top 10 world millionaire household countries Four GCC countries have been ranked in the top 10 worldwide list of millionaire households, reflecting...
A look at today’s important financial news and business updates from the Middle East region: UAE federal bankruptcy law to be ready by year end The UAE Justice Minister Hadef bin Juan al-Dhaheri announced on Monday the government is close to...
A spokesperson for Dubai International Capital, on condition of anonymity, announced the investment fund has reached a deal with creditors to renegotiate terms on $2.4 billion worth of debt. DIC is part of Dubai Holding conglomerate, an entity controlled...
Today’s top business and economy news from the Middle East and North Africa: Emirates to buy 100 777s if Boeing builds new model Emirates, the world's largest airline by international passenger traffic, is likely to order 100 planes or more from...
Monday's UAE papers are quite diverse with their front page news items. Gulf News says Palestine bid is a test for Obama as the US is lobbying support from undecided Security Council members. The paper adds that the US president...
A look at today’s important financial news and business updates from the Middle East region: UAE one of the top Middle Eastern countries in ‘world competitiveness rankings’ The UAE managed to climb 12 places in the 2012 World Competitiveness Yearbook (WCY)...
Enoc joining hands with Saudi fuel retailer to open outlets in kingdom Emirates National Oil Co (Enoc) announced on Tuesday it is joining hands with Saudi fuel retailer Aldrees to build at least 40 service stations in the kingdom. The...
BAN ON COKE, PEPSI CANS OVERTURNED BY UAE AUTHORITIES The UAE's Minister of Economy, Sultan Al Mansouri, has intervened in the Coca-Cola/Pepsi vs Department of Economic Development’s Consumer Protection Division affair and has permitted tourist hotels and restaurants to continue...
A look at today’s important financial news and business updates from the Middle East region: Investors show strong interest in Dubai’s Sukuk bonds The Government of Dubai announced on Thursday it would be raising $1.25 billion in two 5 and 10...
Plans for the Great Dubai Wheel, an AED250million ($68million) worth observation wheel to be part of Dubailand's attractions, have been scrapped by Arjan development, one of the subcontractors of the project told the media. ?Originally the brochure said it...
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa ENEC to construct nuclear power reactors near Abu Dhabi UAE’s nuclear regulator has given green signal to the...
Chief analyst at a global bank has termed the pegging of Gulf currencies with US dollar as unsustainable and damaging in the long term. David Bloom, global head of foreign exchange strategy at HSBC, said hard peg of GCC...
UAE central bank directs lenders to reconsider Emiratis’ loans Lenders in the UAE have been directed by the country’s central bank to help reduce the debt burden of Emirati nationals. Some bankers are suggesting banks to write off certain personal...
Government of Dubai declared it has no plans to restructure billions of dollars of state-linked debt next year, quashing rumours the emirate is facing new financial difficulties. ?The government is following a solid fiscal policy that strengthens the level...